Pershing Taps BNY Jaywalk Research Metrics

Pershing, the clearing firm controlled by The Bank of New York, on Tuesday said that it has begun providing broker-dealer and independent registered investment advisor customers with access to specialized research metrics on more than 5,000 stocks worldwide.

BNY Jaywalk, the bank's independent equity research consulting firm, will supply Pershing with its Consensus Metrics research tool, a consolidated ratings system culled from a global network of 150 independent research providers. The metrics provide investment professionals with a snapshot of the overall sentiment of a wide range of independent analysts on a particular stock along with its 90-day performance.

The network's research providers do not have investment banking conflicts and employ their own discipline and methodology, the company said in a press release.

The service will be delivered via Pershing's online brokerage platforms, NetExchange Pro and NetExchange Advisor, which have a reach of 76,000 investment professionals and RIAs.

"We are focused on providing our customers, their investment professionals, and independent RIAs with access to information that will help them succeed in today's fast paced market environment," said Brian T. Shea, Pershing's chief operating officer, in a prepared statement.

Jersey City, N.J.-based Pershing provides clearing and financial services to more than 1,100 financial organizations and independent investment advisors.